Sustainability reporting is on the rise, as 2012 marks the first year with non-reporters in the minority. According to a recent report published by the Governance & Accountability Institute (G&A), in 2012, 53% of S&P 500 companies reported their corporate sustainability efforts. This is a remarkable increase from the 19% who reported in 2011.
According to the G&A, companies practicing sustainability reporting were found to perform better over the long-term in the capital markets. The spike in reporting suggests that companies are recognizing the value of measuring and managing risks in response to growing environmental and social concerns.
For those companies requiring assistance in realizing this value, the World Resources Institute released a sustainability SWOT (sSWOT) to drive action on environmental challenges for those with limited knowledge of corporate sustainability. Along similar lines, the Network for Business Sustainability published a guide for executives providing a sustainability roadmap and outlining 39 business practices to help foster innovation for sustainability.
The benefits of reporting have become more pronounced and the minority of non-reporters continues to shrink. As suggested by the G&A, the time to report is now, as ‘catching up’ will only become more burdensome in the future.
By Kaitlin Szacki, [email protected]